4 ms·
> Aren't taxes only applicable to the profits? If you hold for less than a year it's income, if you hold for more than a year it's capital gains. So buy and h
by snark42 9y ago
> Aren't taxes only applicable to the profits?
If you hold for less than a year it's income, if you hold for more than a year it's capital gains. So buy and hold would possibly be advantageous in the US at least (35% vs 15% tax rates.)
- AgentME 9y ago>If you hold for less than a year it's income But it's the profits specifically that are taxed as income, not the whole sale value, right? If I buy and sell one Bitcoin a hundred times in a day and make $1 of profit in total, is the tax is a percentage of $1 or a percentage of 100 times the bitcoin price?
- colonelxc 9y agoYes, just the amount gained. You also can write off losses against any other incomes you have.